Burgeoning Health Awareness among Consumers to Bode Well for Global Pea Proteins Market, says TMR
Pea protein food products are likely to gain popularity among health conscious and lactose sensitive consumers over the next few years due to rising digestion congestion concerns among consumers, states Transparency Market Research in a new report. The report is titled, “Pea Protein Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023.”
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The report is a detailed overview of the global pea protein market as it analyzes the historical growth trajectory, current market scenario, and the future opportunities of the market. The study thoroughly describes all the essential elements at play in the global pea protein market and articulates the factors driving and restraining the growth of the market.
The report provides the statistics for the major regions and other segments as well in terms of volume and revenue. An in-depth analysis of the companies operating in the global pea protein market has also been provided in the report along with their strategies, product specification, share, and position in the market. Using Porter’s five forces analysis, the study evaluates the strengths, weaknesses, opportunities, and threats in the global pea proteins market.
According to the report, the demand for pea protein is likely to be driven by the lifestyle changes and shift in food habits of consumers. Consumers are shifting their attention towards the adoption of healthier lifestyles owing to the rising concerns for wellness and health. Moreover, as pea protein food products are non-dairy products, they are in demand from both consumers with low lactose tolerance levels and vegan consumers.
The demand for pea protein products is further likely to increase owing to the growing demand for gluten free food products and development of the nutraceuticals industry. The positive outlook of consumers towards the consumption of sports nutrition products is another major factor that is anticipated to drive the progress of the global pea protein market in future.
However, lack of consumer awareness regarding the benefits of pea protein foods in certain regions and the mounting cost of pea protein products are factors that are likely to hinder the sales of pea proteins across the world. Furthermore, the successful penetration of animal protein products in the nutrition market is anticipated to challenge the market for pea proteins globally. Manufacturers of pea proteins can expect lucrative growth opportunities from the advent of technological advancement in processing and extrusion of pea protein products.
The report states that on the basis of consumption, North America is likely to emerge dominant among all the regions and Asia Pacific is projected to exhibit strong growth in comparison to other regions. The report covers regions such as Asia Pacific, North America, Western Europe, the Middle East and Africa, Eastern Europe, and Latin America. The leading players in the global pea proteins market are Sotexpro, Nutri-Pea Ltd., Axiom Foods Inc., The Scoular Company, Roquette Freres, Farbest Brands, and A&B Ingredients.